Switzerland

Switzerland ranked No. 8 in total trade value through May with a total of $39.79 billion. Exports totaled $6.2 billion and Imports totaled $33.59 billion, a deficit of $27.39 billion.

U.S. trade with Switzerland rose to $25.96 billion through May

Switzerland’s trade with the United States rose to $25.96 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 30.7 percent above its total trade during the same time period last year. U.S. exports to Switzerland decreased 10.13 percent while U.S. imports from Switzerland rose 47.54 percent. The U.S. deficit with Switzerland was $15.54 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 John F. Kennedy International Airport; No. 2 Chicago O’Hare International Airport; No. 3 Port of Newark; No. 4 Port of New Orleans; and No. 5 Los Angeles International Airport. During the same period the previous year, the top five were No. 1 John F. Kennedy International Airport; No. 2 Port of Newark; No. 3 Chicago O’Hare International Airport; No. 4 Port of New Orleans and No. 5 Los Angeles International Airport. In the current time period, the top five accounted for 80.26 percent of Switzerland’s U.S. trade.

Among those top five:

  • Trade with No. 1 John F. Kennedy International Airport rose 205.1 percent to $21.49 billion.
    Exports fell 32.9 percent to $2.6 billion. Imports rose 497.26 percent to $18.89 billion.
  • Trade with No. 2 Chicago O’Hare International Airport rose 11.18 percent to $4.41 billion.
    Exports fell 14.33 percent to $176.2 million. Imports rose 12.58 percent to $4.23 billion.
  • Trade with No. 3 Port of Newark fell 1.9 percent to $4.09 billion.
    Exports rose 161.41 percent to $272.56 million. Imports fell 6.1 percent to $3.81 billion.
  • Trade with No. 4 Port of New Orleans rose 7.31 percent to $1.2 billion.
    Exports fell 10.4 percent to $299.1 million. Imports rose 14.82 percent to $902.88 million.
  • Trade with No. 5 Los Angeles International Airport fell 8.64 percent to $745.85 million.
    Exports fell 15.9 percent to $317.24 million. Imports fell 2.39 percent to $428.61 million.

Switzerland ranked No. 8 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 16.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Switzerland by value through May were the categories of Gold; Plasma, vaccines, blood; Paintings, drawings and other artwork; Unwrought platinum in various forms; and Jewelry, parts, respectively. They accounted for 50.7 percent of total exports to Switzerland.

The value of the top five categories of U.S. imports from Switzerland –– Gold; Articles with precious metals; Medicines in individual dosages; Returned exports, without change; and Plasma, vaccines, blood –– accounted for 76.84 percent of all inbound shipments.

Looking more closely at U.S. exports to Switzerland:

  • Gold rose 62.62 percent compared to last year to $1.59 billion.
  • Plasma, vaccines, blood fell 7.59 percent compared to last year to $588.21 million.
  • Paintings, drawings and other artwork fell 41.7 percent compared to last year to $332.02 million.
  • Unwrought platinum in various forms rose 31.26 percent compared to last year to $330.92 million.
  • Jewelry, parts fell 71.48 percent compared to last year to $304.11 million.

Looking more closely at U.S. imports from Switzerland:

  • Gold rose 11382 percent compared to last year to $8.77 billion.
  • Articles with precious metals rose 5032.03 percent compared to last year to $6.16 billion.
  • Medicines in individual dosages rose 2.6 percent compared to last year to $5.67 billion.
  • Returned exports, without change rose 24.47 percent compared to last year to $3.35 billion.
  • Plasma, vaccines, blood rose 25.58 percent compared to last year to $1.18 billion.

In the latest annual figures available, Switzerland recorded $62.5 billion in trade with the United States. Total U.S. exports to Switzerland were $ 17.92 billion and imports from Switzerland were $44.58 billion. The U.S. deficit with Switzerland was $26.66 billion.